McClatchy Newspapers reaffirms Q4 outlook

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LONDON (CBS.MW) -- McClatchy Newspapers Inc.
MNI, -2.75%
reaffirmed its fourth-quarter outlook for earnings of 97 cents per share to $1 per share. The newspaper and Internet published said it believes it will achieve record earnings again in 2005, whether or not the Financial Accounting Standards Board requires companies to expense stock options as announced. On a full year basis, McClatchy said its 2005 earnings would be lower by 3 percent, or 10 cents to 12 cents per share, if it had to expense stock options. The company reported November consolidated advertising revenue up 7.1 percent and total revenue up 5.8 percent to $99.9 million.

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